Nov. Personal Income, Spending Up, Savings Down

December 23, 2002 ( - American incomes rose by 0.3% in November, according to the Bureau of Economic Analysis (BEA).

It was the fourth monthly increase in a row for the gauge, which also found that individual after-tax incomes rose 0.4%, also for the fourth month in a row, and matching October’s rate of increase.

On the other hand, workers managed to spend it as fast as they made it, with personal spending recording its largest increase in four months, 0.5%.   Consequently, the nation’s saving rate, savings as a percentage of after-tax income, dipped to 4.3% last month from 4.4% in October.